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BILL AS INTRODUCED 2007-2008

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S.277

Introduced by Senator Lyons of Chittenden District

Referred to Committee on

Date:

Subject:  Taxation; downtown and village center tax credits; increased cap

Statement of purpose:  This bill proposes to increase the cap on allowable downtown and village center tax credits from $1.6 million to $2.0 million.

AN ACT RELATING TO INCREASED CAP ON DOWNTOWN TAX CREDITS

It is hereby enacted by the General Assembly of the State of Vermont:

Sec. 1.  32 V.S.A. § 5930ee is amended to read:

§ 5930ee.  LIMITATIONS

Beginning in fiscal year 2008 2009 and thereafter, the state board may award tax credits to all qualified applicants under this subchapter, provided that:

(1)  The total amount of tax credits awarded annually, together with sales tax reallocated under section 9819 of this title, does not exceed $1,600,000.00  $2,000,000.00.

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Published by:

The Vermont General Assembly
115 State Street
Montpelier, Vermont


www.leg.state.vt.us